In the highly competitive world of marketing, predicting brand growth is both an art and a science. One emerging tool gaining traction in this space is Share of Search (SoS). In simple terms, SoS measures how often people search for your brand online compared to your competitors. Research suggests that it can act as a strong predictor of market share and brand health, making it a valuable resource for marketers and business leaders.
This step-by-step guide will walk you through how to effectively use Share of Search to anticipate brand growth and make smarter, data-driven decisions.
Share of Search refers to the percentage of total online search volume that’s dedicated to your brand versus your competitors. For instance, if 20% of all searches in your category are for your brand, your Share of Search is 20%. This metric provides insights into both consumer interest and changes in brand perception over time.
Why it matters:
Early Indicator of Market Share: Research shows that shifts in Share of Search often precede changes in market share, making it an early sign of brand performance.
Insight into Consumer Interest: It reveals active consumer interest, especially during key events like product launches or crises.
Real-Time Feedback: Unlike surveys or focus groups, SoS offers near-instant insights into how your brand is performing.
Start by defining the brands you’ll compare against. These should be all or as many direct competitors in your category as possible. This is because you want to compare your brand to the entire market. Leaving out significant competitors makes the data difficult to trust and especially to correlate to market share.
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Next, collect search volume data for your brand and competitors using tools like:
Google Trends: A free tool that provides insights into relative search interest over time.
SEMrush or Ahrefs: Paid platforms offering detailed search volume and keyword data.
Brand-Specific SEO Tools: Custom tools tailored to your industry.
Pro tip: Focus on branded search terms (e.g., “Nike shoes” or “Adidas sneakers”) rather than generic ones like “running shoes” to gauge interest specifically tied to your brand.
After gathering the data, calculate Share of Search using this formula:
Add up the total search volume for all brands in your competitive set.
Divide your brand’s search volume by the total.
Multiply by 100 to express the result as a percentage.
Example:
Brand A: 1,000 searches
Brand B: 2,000 searches
Brand C: 3,000 searches
Total searches: 6,000
SoS for Brand A = (1,000 ÷ 6,000) × 100 = 16.7%
Share of Search is most useful when monitored regularly. By tracking it over time, you can identify:
Seasonal patterns.
Impacts of marketing campaigns.
Changes in competitive positioning.
Use visuals like line graphs or bar charts to easily spot trends, whether they’re upward or downward.
To understand how reliable SoS is as a growth indicator, compare it with actual market share data. While it may not always directly align with sales, consistent patterns between the two can help validate its accuracy.
For example:
A rising SoS during a product launch might suggest strong momentum.
A declining SoS could signal brand erosion before it’s reflected in sales figures.
Finally, apply your Share of Search insights to shape business strategies. Here’s how:
Boost Brand Visibility: If your SoS is low, prioritize campaigns that drive awareness.
Monitor Competitors: Keep tabs on competitors’ SoS to anticipate their moves and stay ahead.
Align Marketing with Consumer Trends: Use search trends to fine-tune messaging based on what’s driving interest or causing declines.
Automotive Industry: Ford used SoS to track the launch of its Mustang Mach-E electric vehicle, gauging its competitive position long before sales data became available.
Retail: A consumer electronics brand noticed a drop in SoS during a competitor’s product launch. This insight led to a swift marketing pivot to protect its market share.
In today’s fast-paced digital environment, Share of Search offers real-time insights into your brand’s performance. It’s more than just a vanity metric—it’s a powerful tool to predict brand growth, outsmart competitors, and optimize marketing strategies.
By following the steps outlined in this guide, you’ll be well-equipped to harness the power of SoS, enabling smarter, data-driven decisions for long-term success.
So, what are you waiting for? Start tracking your Share of Search today and uncover the secrets to your brand’s future growth!